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DECISION No

DECISION No.249-TTg ON THE 29TH OF APRIL 1995 OF THE PRIME MINISTER ON THE ESTABLISHMENT OF THE VIETNAM POSTS AND TELECOMMUNICATIONS CORPORATION

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government on the 30th of September 1992;

In implementation of Decision No.91-TTg on the 7th of March 1994 of the Prime Minister on the trial establishment of business corporations;

At the proposal of the General Director of the General Post Office,

DECIDES:

Article 1.- To establish the Vietnam Posts and Telecommunications Corporation on the basis of the re-organization and re-arrangement of the service, production, distribution and administration units related to posts and telecommunications under the General Post Office.

The Vietnam Posts and Telecommunications Corporation (hereunder referred to as the Corporation) is a State-owned business, has the legal person status, has civil rights and obligations as prescribed by law, takes responsibility for all business activities conducted within the amount of capital managed by the Corporation; has its seal, assets, and centralized funds, is allowed to open its accounts at domestic and foreign banks in compliance with State regulations, is organized and operates in accordance with the Statute of the Corporation.

The international transaction name of the Vietnam Posts and Telecommunications Corporation is VIETNAM POSTS AND TELECOMMUNICATIONS, or VNPT in abbreviation.

The main Office of the Corporation is located in Hanoi City.

Article 2.- The Corporation has the following main tasks:

1. To carry out businesses and services in posts and telecommunications in accordance with the State overall planning and development plans and policies, including: development planning, investment, creation of sources of investment capital, development of the network of public posts and telecommunications, providing posts and telecommunications services; ensuring the information and communication work in service of the Party and State leadership; providing services for national defense, social security, and diplomatic work; posts and telecommunications industrial production; construction of posts and communications projects; import and export, supply of posts and telecommunications equipment; to enter into joint venture and cooperation with domestic and foreign economic organizations in accordance with State law and policies.

2. To receive and efficiently use, preserve and develop the State-allocated capital, including part of the capital invested in other businesses; receive and efficiently use natural resources, land, and other resources allocated by the State to carry out its assigned business and other tasks.

3. To organize and manage activities in research and application of scientific and technological advances, in training and fostering of cadres and workers in the Corporation.

Article 3.-

1. The organizational structure of the Corporation consists of:

- The Managing Board, the Supervisory Commission;

- The General Director and the assisting apparatus;

- The member units of the Corporation.

2. The organization and operation of the Corporation is defined in the Statute of the Corporation promulgated by the Government.

Article 4.- The General Director of the General Post Office, after consultation with the Minister-Chairman of the Government Commission on Organization and Personnel, shall submit to the Prime Minister for decision the appointment of the President of the Managing Board, the General Director of the Corporation and other members of the Managing Board of the Corporation.

The General Director of the General Post Office shall decide the appointment of the Deputy General Directors and the Chief Accountant of the Corporation proposed by the Managing Board at the suggestion of the General Director of the Corporation.

Article 5.-

1. The General Director of the General Post Office shall elaborate a plan for the rearrangement of the posts and telecommunications service, production, distribution, administration units as stipulated in Article 1 in order to draw up a list of the member units of the Corporation, and submit it to the Prime Minister for decision.

2. The Managing Board of the Corporation is responsible for drafting the Statute on the organization and operation of the Corporation, and submitting it to the Government for promulgation.

3. The Minister of Finance shall preside over and cooperate with the General Director of the General Post Office in the allocation of capital to the Corporation.

Article 6.- This Decision takes effect from the date of its promulgation.

The General Director of the General Post Office, the Minister of Finance, the Minister-Chairman of the Government Commission on Organization and Personnel, the Ministers, the Heads of the ministerial-level agencies, the Heads of the agencies attached to the Government, the Presidents of the People's Committees of the provinces and cities directly under the Central Government, the Managing Board and the General Director of the Vietnam Posts and Telecommunications Corporation shall have to implement this Decision.

The Prime Minister

VO VAN KIET